Financial News
Natural-gas futures drop further with weekly U.S. supply up 39 billion cubic feetExternal Link

The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas rose by 39 billion cubic feet for the week ended Nov. 9. Analysts polled by S&P Global Platts had forecast a climb of 38 billion cubic feet, while the average over the last five years for the same week was a rise of 19 billion. Total stocks now stand at 3.247 trillion cubic feet, down 528 billion cubic feet from a year ago, and 601 billion below the five-year average, the government said. December natural gas traded at $4.275 per million British thermal units, down 55.9 cents, or 11.5%, from Wednesday's settlement. It was trading at $4.323 before the supply data.

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Thu, 15 Nov 2018 15:38:06 GMT
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Treasury sanctions 17 Saudi officials over Khashoggi killing External Link

The U.S. Treasury announced sanctions Thursday on 17 individuals for their roles in the killing of Jamal Khashoggi, a Saudi journalist who was critical of his country's government. Those sanctioned include Saud Al-Qahtani, a senior Saudi government official who Treasury named as being part of the planning that led to Khashoggi's killing in the consulate in Istanbul in October. The sanctions freeze U.S. assets of the 17 individuals and also bar Americans from engaging in transactions with them. "These individuals who targeted and brutally killed a journalist who resided and worked in the United States must face consequences for their actions," said Treasury Secretary Steven Mnuchin in a statement. Khashoggi was a Washington Post columnist.

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Thu, 15 Nov 2018 15:30:29 GMT
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Nike opens latest hi-tech retail experience in NYC on ThursdayExternal Link

Nike Inc. is opening is latest retail experience, Nike NYC, on Thursday on Manhattan's Fifth Avenue. The shop offers benefits and features like the Speed Shop, which offers locals swift access to popular items and the ability to pick up items that NikePlus members reserve on the Nike app, personal service in the Nike Expert Studio, and a customized visit based on app in-store features. On Tuesday, Nike announced that Craig Williams has been named president of the Jordan brand. Williams joins from Coca-Cola Co. where he was senior vice president and president of the McDonald's division where he was responsible for growing the strategic partnership with the fast-food giant . He succeeds Larry Miller, who will become chairman of the new Jordan brand advisory board. Nike shares have gained 17.7% for the year so far while the Dow Jones Industrial Average is up 1% for the period.

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Thu, 15 Nov 2018 15:24:51 GMT
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MoviePass parent Helios and Matheson reports net losses tripled in third quarterExternal Link

Beleaguered MoviePass parent Helios and Matheson Analytics Inc. reported third-quarter results Thursday morning. The company reported a loss of $129.6 million, or a loss of 20 cents per share, compared to a loss of $43.5 million, or a loss of $5.79 per share, in the year-earlier quarter. Helios chalked up the increase in net loss to its acquisitions of MoviePass, Moviefone assets and forming MoviePass Ventures and MoviePass films. Revenue for the quarter was $81.34 million, up from $1.17 million a year ago. Shares of Helios are trading at a mere 2 cents a share, despite the company's 1-to-250 reverse stock split in July. The company proposed a second split in September of 1-for-500 shares in an effort to avoid delisting of its stock, but revealed earlier this week it did not have enough support for the plan. The spectacular rise and fall of MoviePass, its movie subscription service, has Helios looking for ways to solve its Wall Street woes, including a plan to split off the MoviePass business into an independent entity. Helios stock has effectively lost all of its value in the year to date, while the S&P 500 has gained 0.7%.

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Thu, 15 Nov 2018 15:11:56 GMT
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PG&E shares slide another 19% as wildfire liability concerns deepenExternal Link

Shares of PG&E Corp. tumbled another 19% in early trade Thursday, bringing their week-to-date losses to 48%, as the utility continued to suffer from concerns about its liability in California's deadliest wildfire. The stock slid 22% on Wednesday, after the company warned that its insurance will not cover the potential losses from the fire, which may have been caused by an outage on one of its transmission lines. The company confirmed in a regulatory filing that the outage happened in the area of Butte County near the city of Paradise where the fire is understood to have started. The company's insurance coverage is for about $1.4 billion and analysts are expecting the bill to be much higher. Shares are now down 55% in 2018, while the S&P 500 has gained 0.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Thu, 15 Nov 2018 14:59:24 GMT
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